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Thank you for the editorial “Supply, meet demand” (July 6), explaining the gyrations of gasoline prices in terms of economic realities rather than conspiracies by Big Oil.
I have just one question for those who insist that the oil companies are ripping us off with extortionate prices: Why don’t the companies simply raise the price of gasoline to a high level–say, $2.50 per gallon–and then just keep it there?
Surely they would make a lot more money and wouldn’t suffer the bad publicity when prices keep jumping up and down.
The answer is that prices really are set by supply and demand, and even the biggest suppliers can’t control the market.
